Medium Chain Triglycerides Market

Medium Chain Triglycerides Market Size (2023-2028):

The Global Medium Chain Triglycerides Market size is expected to reach USD billion with a CAGR of 6.3% by 2028, where the market value was at USD 1168.65 million in 2022.

Market Overview:

Medium-chain triglycerides are fatty acids that are composed of 6-12 carbon chains, as compared to long-chain fatty acids, which are made up of 13-21 carbon atoms. Medium-chain triglycerides are derived from coconut oil, palm kernel oil, whole milk, and butter; due to their chain length, it is easily absorbed, metabolized in the body, and converted into energy, making them a readily available source of energy. Medium-chain triglycerides are used by individuals who are on a weight loss journey, as the body converts them into ketone bodies which easily cross the blood-brain barrier, making them the ultimate source of energy, and it is rarely stored as fats. When consumed, it gives a feeling of fullness and satiety, which leads to less calorie intake, thus helping in managing weight. In addition, medium-chain triglycerides are also used in medical conditions with a malfunction in absorption, where it acts as an energy source for patients with metabolic disorders.

REPORT COVERAGE:

Drivers:

An increasing trend for health and wellness has driven the medium-chain triglycerides market share. People are becoming more conscious about their diet and food choices, and the demand for medium-chain triglycerides has increased due to their positive impact on weight management. Also, changing lifestyles and sedentary lifestyle, and overconsumption of high-calorie processed food has contributed to obesity and weight-related issues. Owing to heightened awareness of weight management led to the adoption of medium-chain triglycerides, as it gets converted into ketone bodies that act as an instant energy source. In addition, medium-chain triglycerides promote the feeling of satiety and fullness, which ultimately benefits individuals who are on calorie-deficient diets. The rising popularity of the ketogenic diet has also driven the medium chain triglycerides since the ketogenic diet consists of a low-carbohydrate and high-fat diet, medium chain triglycerides act as a facilitator and produce ketones which get rapidly utilized in the form of energy. Hence, the attitude shift toward health, wellness, and weight management of individuals has propelled the medium chain triglycerides market size.

The incorporation of medium-chain triglycerides in the food and beverage industry has led to the expansion of medium-chain triglycerides market shares; one of the popular food energy bars has become increasingly popular due to its high nutritional energy-boosting content by adding medium-chain triglycerides, it creates a feeling of fullness which directly helps in managing weight. Many athletes have also incorporated medium-chain triglycerides in sports drinks to aid in maintaining energy and hydration levels. One of the most popular drinks, called bulletproof coffee, also has medium chain triglycerides from coconut oil as content along with grass-fed butter; this keto coffee provides energy and also helps with weight loss. Thus, this flexibility contributed to the market growth of the medium chain triglycerides.

As the demand for natural and organic skin and personal care products has increased, the emollient property of medium-chain triglycerides has been used in moisturizers and lotions for smooth skin and to maintain the hydration level of the skin. Also, because of its non-greasy feature, it is well suited for cosmetic products, making them an ideal ingredient in serums and lotions. Therefore, the growing interest in natural and organic products is positively impacting the growth rate of the medium-chain triglycerides market.

Restraints:

The high cost which is involved in the extraction and processing of medium-chain triglycerides and rising production costs can restrict the medium-chain triglycerides market expansion. Also, medium-chain triglycerides derived from premium sources such as coconut oil and oil seeds can be expensive and costly, and it can limit the widespread adoption in food and beverage formulations. Moreover, medium-chain triglycerides from palm kernel oil can create sustainability issues since they can lead to deforestation and habitat destruction. These factors hinder the medium chain triglycerides market shares.

Opportunities:

Medium-chain triglycerides have several opportunities in the market due to their wide applications in the food and beverage industry, cosmetics and personal care industry, health and wellness, and therapeutics. Owing to this, it has spanned various industries and demographics. Especially the rise in the population of the millennial generation could lead to more demand and usage of medium-chain triglycerides due to the increasing focus on health and weight management.

Moreover, the lack of awareness of the benefits of medium-chain triglycerides can limit the market; through social media and online platforms, more awareness can be created to increase its market size. Therefore, these opportunities can lead to market growth and expansion.

Lack of awareness and high cost of production and extraction are the major challenging factors,The outbreak of COVID-19 positively impacted the demand and market size of the medium-chain triglycerides. The impact of the pandemic created awareness for health and well-being among consumers, as the importance of keeping a strong immunity led to an increase in demand for medium-chain triglycerides. During the pandemic, consumers were seeking ways to maintain their overall weight as restriction of movement and closing down of gymnasium led to increasing cases of obesity; along with this, the consumption of processed foods also increased, which further contributed to the usage of the medium chain triglycerides through functional foods and beverages. The market shares started to elevate at a higher rate post-pandemic.

Medium Chain Triglycerides Market Segmentation Analysis:

By Type:

• Caproic Acid
• Caprylic Acid
• Capric Acid
• Lauric Acid

Caprylic acid dominated the market and accounted for the highest market share, as caprylic acid rapidly converts into ketones and provides energy instantly. It has anti-bacterial and anti-fungal properties, which help in the elimination of yeast infection, especially in infants and newborn babies. Capric acid has the fastest-growing market share due to its similar characteristics to caprylic acid. Lauric acid is also seeing significant growth due to its anti-viral feature, which fights the common cold, genital herpes, and cold sores. Caproic acid is seen to have a steady growth in the forecasted period; it is used as a flavoring agent and in the manufacturing of hexyl derivatives.

By Source:

• Coconut Oil
• Palm Kernel Oil

Coconut oil has the highest market share. This dominance is due to the availability of coconuts and environmental sustainability. Also, most consumers prefer coconut oil as the source of medium-chain triglycerides due to its anti-microbial property. At the same time, palm kernel oil raises the issue of sustainability as it leads to deforestation and habitat destruction.

By Application:

• Dietary Supplements
• Pharmaceuticals
• Food and Beverages
• Beauty and Personal Care Products

Based on the application, dietary supplements accounted for the highest market share since medium-chain triglycerides are used as supplements for managing weight and obesity. Also, this supplement has been used in the management of various diseases and illnesses such as cardiovascular, Alzheimer’s, and gastrointestinal. For weight-conscious individuals, medium-chain triglycerides are used as a powder mixed in food and beverages, which gives a feeling of satiety and fullness. Furthermore, due to its emollient nature, it has been widely used in beauty and personal care products such as lotions and moisturizers, which provide hydration and smoothness.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

Based on the region, the North America segment dominated the medium-chain triglycerides market share and generated maximum revenue. This dominance was due to the prevalence of obesity among various demographic groups of the population, which caused the adoption of medium-chain triglycerides in diets for the maintenance of overall health and weight. Also, the increasing cases of cardiovascular disorders further contributed to the market growth. Asia Pacific segment has the fastest growing market share due to the application of coconut oil and milk in the diet. Also, its demand in the form of dietary supplements increased the consumption of medium-chain triglycerides. Europe is forecasted to have significant market growth in the forecasted period, owing to its use in cosmetics and personal care products. Latin America has steady market growth, as a young population is getting aware of managing weight and health. Middle East and Africa have the lowest market share as compared to other regions.

Key Players in the Market:

Major Key Players in the Global Medium chain triglycerides Market are

• BASF SE
• DuPont
• DSM
• Croda International PLC
• Sternchemie Lipid Technology
• Lonza Group Ltd
• Wilmar International Limited